Press Release: Creative Media & Community Trust Corporation Reports 2024 Third Quarter Results

Dow Jones
2024-11-08
 income taxes                                                                                           (10,561) 
   Provision for income 
    taxes                                                                                                   (15) 
                                                                                                        ------- 
Net loss                                                                                                (10,576) 
Net loss attributable 
 to noncontrolling 
 interests                                                                                                  192 
                                                                                                        ------- 
Net loss attributable 
 to the Company                                                                                        $(10,384) 
                                                                                                        ======= 
 
 
                                                     Three Months Ended September 30, 2023 
                         ---------------------------------------------------------------------------------------------- 
                           Same-Store      Non-Same-Store     Total 
                             Office            Office        Office    Hotel     Multi-family     Lending      Total 
                         --------------  ------------------  -------  -------  ----------------  ---------  ----------- 
 
   Cash net operating 
    income (loss)         $   9,938        $    (49)         $9,889   $1,922    $     90          $    366  $ 12,267 
   Deferred rent and 
    amortization of 
    intangible assets, 
    liabilities, and 
    lease inducements          (571)             --            (571)      (1)       (481)               --    (1,053) 
                             ------      ---  -----  ------   -----    -----       -----   ----      -----   ------- 
   Segment net 
    operating income 
    (loss)                $   9,367        $    (49)         $9,318   $1,921    $   (391)         $    366  $ 11,214 
   Interest and other 
    income                                                                                                       220 
Asset management and 
 other fees to related 
 parties                                                                                                        (724) 
Expense reimbursements 
 to related 
 parties--corporate                                                                                             (524) 
   Interest expense                                                                                           (8,556) 
   General and 
    administrative                                                                                            (1,603) 
   Transaction-related 
    costs                                                                                                        (38) 
   Depreciation and 
    amortization                                                                                             (16,082) 
                                                                                                             ------- 
Loss before benefit for 
 income taxes                                                                                                (16,093) 
   Provision for income 
    taxes                                                                                                       $(554.SI)$ 
                                                                                                             ------- 
Net loss                                                                                                     (16,647) 
Net loss attributable 
 to noncontrolling 
 interests                                                                                                       874 
                                                                                                             ------- 
Net loss attributable 
 to the Company                                                                                             $(15,773) 
                                                                                                             ======= 
 

View source version on businesswire.com: https://www.businesswire.com/news/home/20241108879514/en/

 
    CONTACT: 

For Creative Media & Community Trust Corporation

Media Relations:

Bill Mendel, 212-397-1030

bill@mendelcommunications.com

or

Shareholder Relations:

Steve Altebrando, 646-652-8473

shareholders@creativemediacommunity.com

 
 

(END) Dow Jones Newswires

November 08, 2024 06:00 ET (11:00 GMT)

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